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Financial Institutions.
The Dunedin Starr-Bowkett Building Society
. Registered office, Corner of Octagon and Stuart Street, Dunedin. Telephone, 1363, Bankers, Bank of Australasia. Secretary. Mr J. A. Hopcraft. This successful society was established on the 18th of May, 1896, having a limit of 2,000 shares. As soon as the funds in hand amount to £500 an appropriation is made either by ballot or by sale. Up to the 1st of October, 1903, eighty-four appropriations had taken place, forty-two by ballot and forty-two by sale. On the 16th of December, 1901, the second group was formed; and up to 1903, 1700 shares had been taken up out of the 2000 to be issued. Subsequent to the formation of the second group sixteen appropriations were made up to the 1st of October, 1903; eight by ballot, and eight by sale.
The Mutual Help Terminating Building Society
, which was registered (under “The Building Societies Act”) on the 14th of July, 1896, is conducted on Starr-Bowkett principles, with rather more liberal provisions. Mr. Thomas Scott is the chairman, and Mr. A. A. Adams the secretary, and the office is situated at the Mutual Life Chambers, 79 Princes Street, Dunedin.
The Otago And Southland Investment Company, Limited;
Head office, London; head office for New Zealand, 1 Lower High Street, Dunedin. Agencies at Invercargill, Timaru, and Christchurch. New Zealand Directors; Messrs A. W. Morris (chairman), and Crosby Morris; Mr G. H. Moodie, manager. This company was incorporated in 1864 with a capital of £1,000,000, in 200,000 shares at £5 each, of which 130,000 were issued, and the capital invested in properties in Canterbury, Otago and Southland. The greater number of shares are held by English capitalists.
Mr. G. H. Moodie
, the Manager, was born in Glasgow, and came to Dunedin in 1862 by the ship “Pladda.” For six years after his arrival he was employed in the Intercolonial Royal Mail Steam Ship Company, which was afterwards merged into the Panama New Zealand and Australian Royal Mail Company. Mr Moodie subsequently entered the service of Messrs Dalgety, Rattray and Co., and in 1870 joined the Otago and Southland Investment Company, advancing through the various positions in the office until receiving his present appointment. He took a thirteen months' trip Home in 1874. Mr. Moodie is a widower, and has three daughters and one son.
Otago Traders' Protection Society
(A. A. Adams, proprietor), 1 Exchange Court, Princes Street, Dunedin. This useful society, which was founded in 1892, undertakes the collection of debts, the winding up of estates (or arrangements with creditors), and the representation of absentees.
The Perpetual Trustees Estate And Agency Company Of New Zealand, Ltd.
Directors, Messrs Keith Ramsay (chairman), Robert Glendining, James Haslett, and W. E. Reynolds. Managing Director, Mr. Walter Hislop. Offices, corner of Rattray and Vogel Streets, Dunedin. Telephone, 33. P.O. Box, 97. Bankers, National Bank of New Zealand. Solicitors, Messrs Bathgate and Woodhouse. Private residence of managing director, Royal Terrace. This company was incorporated in April, 1884, under “The Companies Act, 1882,” in order to provide a safe and permanent body having perpetual succession to act:—(1) as executor and trustee under a will; (2) as trustee under marriage or other settlements; (3) as trustee in place of other trustees who may wish to be relieved and discharged from their trusts; (4) as agent for executors, trustees, or administrators, or for any persons who may prefer to have skilled agents to act for them in the management and realization of estates; (5) as attorney under power, or agent, either for persons resident abroad or about to leave the Colony, or resident in the Colony; to invest money on real or other securities, collect rents, dividends, interest, and other income, negotiate loans, buy and sell land or other property, effect and keep on foot insurances, manage, sub-divide, or lease real estate, and to act generally as agent; another object was to acquire the goodwill of the land and estate agency
businesses of the firms of Messrs. Gillies, Street and Hislop, and Messrs Connell and Moodie. The former firm was established by the late Mr. Robert Gillies in 1860, the late Mr. Charles Henry Street joining the business in the following year, and Mr. Walter Hislop in 1876; the late Mr. John Aitken Councill and Mr. Thomas Moodie founded the firm of Connell and Moodie in 1862. The capital of the company is £106,250 in 25,000 shares of £4 5s., of which £92,093 5s. is subscribed, and £8,125 17s. 6d. paid up. To enable the company more fully and satisfactorily to carry on its business, and to act as aforesaid, a special Act of the New Zealand Parliament was applied for and obtained (session 1884), intituled “An Act to confer powers upon the Perpetual Trustees Estate and Agency Company of New Zealand, Limited,” a copy of which may be obtained, together with a copy of the company's Articles and Memorandum of Association, by any person, on application to the company. It is not surprising that the company should have been sucessful, seeing that Messrs. Hislop and Moodie—surviving partners of the old firms out of which the business was evolved—whose experience has extended over thirty-five years, continue to take an active part in the management of its affairs. Substantial dividends have been paid from time to time, the rate sometimes being twelve and a half percent.
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The premises occupied as the company's offices comprise the ground floor of a handsome three-storey brick building—given in the engraving—at the corner of Rattray and Vogel Streets, which is the property of the trustees in the estate of the late Mr. Robert Gillies. The Perpetual Trustees Estate and Agency Company, Ltd., hold the agency in Otago for the Norwich Union Fire Insurance Society. To facilitate the company's business, a very comprehensive and handy pamphlet has been published, entitled “Summary of the objects and advantages of the Perpetual Trustees Estate and Agency Company of New Zealand, Ltd.” This little booklet, which contains over thirty pages, supplies the fullest information as to the position of the company, its scope, aims, objects and advantages, also including the scale of charges, which is uniform and Strictly adhered to. In the appendix, detailed and carefully prepared instructions are given as to the form of wills and codicils and power of attorney, with full text of such documents in legal form, so that any person of average intelligence may, should necessity arise, adapt such drafts to suit any individual ense. These pamphlets are procurable on application personally, or by letter addressed to the company at its registered office in Dunedin.
Mr. Walter Hislop
, the Managing Director of the company, is a son of Dr.
John Hislop, LL.D., and brother of the Hon. T. W. Hislop, solicitor, of Wellington. Born at Kirknewton, Midlothian, Scotland, in 1847, he received his early education at the parish school of which his father was the teacher. In 1856 the family arrived by the ship “Strathmore” at Port Chalmers, Mr. Hislop, senior, having accepted work under the Provincial Government of Otago, as master of the East Taieri school; and here the subject of this notice gained further instruction. On completing his course of study, Mr. W. Hislop had two years' experience on the farm of his uncle at Saddle Hill, and in March, 1862, entered the service of Messrs Gillies and Street, with whom he continued till he was admitted a partner fourteen years later. Mr. Hislop was married in 1871 to a daughter of Mr. James Brown, of Dunedin, and has four sons and two daughters.
Southern Starr-Bowkett Society
. Directors: Messrs. S. S. Myers (chairman), T. Cole, C. Spright, J. Miller, C. Macandrew, and J. H. Hancock; secretary, Mr. P. Helmore, 95 Princes Street, Dunedin. This society was established in 1896, to enable its members to become property owners, without paying interest. It is in a flourishing condition, having 1,000 shares, held by 450 members.
The Trustees, Executors And Agency Company Of New Zealand, Ltd.
Directors: Messrs P. C. Neill, J. R. Sinclair, J. M. Ritchie, J. Roberts, C.M.G., and J. Mills. Manager, Mr. William Laurence Simpson. Offices, Exchange Buildings, Liverpool Street, Dunedin. Telephone, 136; P.O.Box. 160. Bankers, National Bank of New Zealand. London agent, Mr. H. J. Gibbs, 34 Leaden-hall Street, E.C. This company, which was incorporated in July, 1881, is specially empowered to act as executor, trustee, liquidator, guardian, assignee, receiver, committee and attorney — in pursuance of the “Trustees, Executors and Agency Company Act,” ‘1882, and its amendment Act, 1884. The capital of the company is £50,000 in 10,000 shares of £5 each—with a liability for double that amount—which are fully subscribed, £10,000 being paid up. The reserve fund amounts to £2500, and dividends have been regularly paid since 1885, those since 1890 being at the rate of seven per cent. and to some has been added a bonus of three per cent. Copies of the company's report and balance sheet, which embody scales of charges and information as to the advantages of appointing the company as trustee and executor, may be obtained on application to the office either personally or by letter.
Mr. William Laurence Simpson
, Manager of the Trustees, Executors and Agency Company of New Zealand, Limited, was born in Kintore, Aberdeenshire, Scotland. He was educated at the Aberdeen Grammar School, and at the Universities of Aberdeen and Edinburgh, and was trained as a Scotch lawyer. Mr. Simpson came to Port Chalmers in January 1863 in the ship “Ben Lomond.” Shortly after landing he entered the Government service as clerk, and receiver of gold revenue on the Otago gold-fields, and was shortly afterwards appointed
a warden and magistrate. He continued his service as magistrate and warden in all parts of the province for sixteen years. Mr. Simpson was appointed Resident Magistrate of Dunedin in 1879, and this office he held till December, 1882, when he retired from the Government service to take up the important position he now occupies as manager of the Trustees, Executors and Agency Company of New Zealand, Ltd. It may be mentioned that this gentleman was one of the liquidators appointed by the Supreme Court in connection with the Colonial Bank of New Zealand.
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